Judging from the 1-hour BOLL indicator, the BTC price rebounded quickly after falling to the lower Bollinger band of 89801.2, forming a strong reversal pattern of golden needle bottoming, and then broke through the middle band of the Bollinger band in one fell swoop and stood firm.

The morphological characteristics of the Bollinger Bands also further support the bullish trend, after the price rebounded from the lower band, the opening of the Bollinger Bands showed an expansion trend, indicating that while short-term volatility intensified, the upward momentum was gathering, and the price stood firm in the middle of the long-short watershed, which also means that the short-term trend has switched from weak shocks to strong upwards. In addition, the intraday price retracement did not fall sharply, which also verified that the 92,000 mark has been transformed from a pressure level to a support level.

BTC is recommended to be around 92,000 and 91,500, with a target of 95,000.